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Category: Consumer Financial Protection Bureau

How Consumers Can Protect Themselves With the CFPB on Pause

How Consumers Can Protect Themselves With the CFPB on Pause

With the government seemingly stepping back from regulatory duties, consumers may have to act as their own financial watchdogs. The Consumer Financial Protection Bureau, the independent federal agency created after the 2008 financial crisis to shield people from fraud and abuse by lenders and financial firms, has been muzzled, at least temporarily. “Everything is on […]
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CFPB Drops Lawsuit Against Capital One Bank That Accused It of Tricking Customers

CFPB Drops Lawsuit Against Capital One Bank That Accused It of Tricking Customers

Days before President Trump was inaugurated, the Consumer Financial Protection Bureau sued Capital One, accusing it of using deceptive tactics that the bureau said cheated customers out of $2 billion in interest payments on their savings accounts. On Thursday, the bureau abandoned that lawsuit and permanently waived its legal right to ever again pursue the […]
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Struggle Over Americans’ Personal Data Plays Out Across the Government

Struggle Over Americans’ Personal Data Plays Out Across the Government

Last week, Michelle King, the acting commissioner of the Social Security Administration, sought to reassure Democrats on Capitol Hill about the presence of two of Elon Musk’s allies at her agency. The Social Security Administration keeps medical information, bank account numbers and other sensitive personal data about the roughly 70 million Americans it provides with […]
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Category: Consumer Financial Protection Bureau

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